Insolvency shock: star bakery releases over 1000 employees!

Insolvency shock: star bakery releases over 1000 employees!

One of the largest bakery chains in Germany, the star bakery, has registered bankruptcy in self -administration. With 120 branches across the country, over 1,000 employees are affected, and the production at the headquarters in Hechingen will be discontinued by the end of the year. This decision is a hard blow for the company that has existed for 250 years. The exact number of closed branches will be announced in the coming days, but there is hope in Thuringian Gera and Brandenburg's Spremberg: An investor is emerging that could possibly take over two and three branches, as can be seen from the company announcement.

The industry has been under pressure for years, reinforced by the energy price crisis and the competition with large chains and supermarkets. This is not the first application for bankruptcy, because the figures in the bakery trade have been showing a dramatic decline since 2013 - from over 13,000 bakeries to only 9.242 in 2023. This problem is part of a larger trend in the German economy that is headed for in 2024 for record -breaking insolvency figures, with other sectors. Further information on this is to be found .